Goodbye July and hello August!! When it comes to the real estate tech market, the past month has been filled with activity and growing interest across multiple segments.
Particularly notable trends include the growing focus on build-to-let (BTR) single-family rental (SFR) developments and the continued commercial emphasis on flexible space offerings.
These trends are highlighted by RangeWaterrecently announced plans to build 155 SFR units, and Mosaicthe hiring of a BTR manager from the Texas region. We work also officially launched its WeWork Workplace product, enabling businesses to access flexible workspaces at its properties and partner properties, and Yardi expanding its coworking service offerings.
This is just the start of a hectic month that is now over. Below I have listed the biggest stories, news and activities around the proptech industry in July 2022.
Enjoy this month PropTech Retrospective.
- Sagemount supports BuildingLink to fuel scaling efforts (July 13)
- Ryan continues his property tax acquisition spree: “Previously, PTG was the national property tax practice of KPMG. Today, their advisory services cover property and personal tax appeals, pre-acquisition planning due diligence, complex real estate advice, and corporate personal property tax compliance. The The PTG website says he provides services to clients on their commercial, industrial, multi-residential and special purpose properties. ” (22nd of July)
- Madison Realty Capital issues $76 million loan for Miami condominium (July 8)
- JLL Acquires Envio to Strengthen Building Operations Data (July 26)
- Leasecake hires former JLL Technologies executive as COO: “The company says the appointment highlights its continued strategic expansion and growth within the location management technology segment, and follows the PeakSpan Capital-led company’s recent $12 million Series A in April 2022.” (July 26)
- Latchel Raises $16.7M for Maintenance Workflow Platform (July 27)
- VoPay and Plexflow partner to simplify payments for Canadians (July 27, IBS Intelligence)
- Home inspection startup PunchListUSA raises $39M in Series A: “Founded in 2018 as a contractor services company Serving real estate agents in Charleston, SC, PunchListUSA now focuses on intuitive online ordering, price tracking and transparency for landlords, brokers and institutional investors. “(July 27)
- 4.3 million new apartments in the United States needed by 2035, new study finds (July 29)
- “Climate risk” holiday homes have seen an increase over the past two years, according to the Redfin report: “Although this echoes an overall increase in second home purchases during the pandemic, with a 37% increase in the same time frame, homes that fell below high climate-related risks saw even higher purchase rates compared to pre-pandemic levels. These include a 45% increase in second homes at high flood risk, 40% at high storm risk and 39% at high heat risk. ” (July the 5th)
- Here Raises $5M, Plans to Expand Vacation Rental Market (July 14)
- ApartmentLove acquires OwnerDirect.com (July 18)
- Proptech Parcl offers real estate investment without liquidity (July 19)
- Pacaso data shows a 25% increase in luxury second home transactions: “The company says that compared to pre-pandemic years, sales of luxury second homes have increased by 235% compared to the first quarter of 2020, according to a press release. He attributed this increase in home sales, defined as homes sold for $1 million or more that are designated for seasonal or recreational use, to demand for summer-related activities and destinations. (July 20)
- Inhabit IQ appoints new supervisors for its vacation division (July 28)
- PriceLabs Secures Funding to Scale Vacation Rental Revenue Platform (July 28)
Real estate intelligence/valuation
- Yardi Unveils Expanded Coworking and Flexible Spaces Services: “The company says this includes the launch of its new CoWorkingCafe.com, which is designed to enable real-time bookings for conference rooms and private offices, and joins Yardi’s five existing business platforms (CommercialCafe, CommercialSearch, PropertyShark, 42Floors and Point2) (July 12)
- Ready Capital Reveals CRE Origination Growth (July 15)
- OpenTech integrates Engrain map data into self-storage operating platform (July 19)
- WeWork Launches Flexible Space Management Solution: “WeWork says it’s the only product on the market that combines all space types (individual rented/owned, WeWork, and shared/affiliated) within of the same experience, and noted that businesses that need the additional space will also have the option to enable access to WeWork and WeWork affiliated global sites.” (July 20)
- Upflex hires new CRO (July 22)
- Commercial real estate backtracks on proposed SEC climate rule (July, 1st, Globe St.)
- Crexi announces two C-suite nominations (July 25)
- Built acquires commercial lending platform Nativ (July 29)